BTC: Summary of The Lab-ken community discussion (23:00:10 ~ 00:00:10)

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1. Current recommendation: Monitor BTC closely at the 70k level. If it fails to break through 70k and remains within its value range, a short is favored, targeting a pullback to the low of 65.2. This assessment is based on the assumption that 65.2 is Monday's low, and 70k is a significant resistance level, suggesting a "pullback after rejection" trading strategy. 2. Position and Risk Management Recommendations: When short, consider a trial order or a small position, focusing on the 70k price level as an entry or stop-loss point. The stop-loss strategy is implicit in whether the 70k price is broken; if it is, it's not advisable to continue shorting. The target profit is clearly set at the low of 65.2, with the timeframe locked in the intraday consolidation phase. 3. Suitable for Trading Styles: This strategy is suitable for aggressive short-term traders, relying on key short-term price levels (70k resistance, 65.2 support) for quick in-and-out trades. It emphasizes that "70k is the real test," reminding traders to be wary of rapid pullbacks after a failed breakout. It is suitable for shorting on short and flexible position adjustments, but not for holding positions for too long.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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